We categorize Central Mumbai as Parel, Worli and Prabhadevi. One could consider living in this area if working in South Mumbai (Churchgate, Colaba, Fort, etc.) or in Central Mumbai. Central Mumbai has countless restaurants, bars and some of the best shopping in the City: the Palladium Mall and High Street Phoenix Mall. If you are looking for a modern building, Central Mumbai has some of the finest residential buildings in Mumbai. The best example of this is World One, currently under construction, which is expected to be the tallest residential building in the world.
The domestic and international airports are about 30 to 45 minutes away while the Sealink Bridge easily connects Worli and Central Mumbai to Bandra and the rest of North Mumbai. Another benefit is that South Mumbai (Churchgate, Colaba and Fort, etc.) is only a 20-30 minute drive away.